GeoPark Responds to Parex Resources' Proxy Fight, Defends Strategy and Board Nominations

summarizeSummary

GeoPark Limited issued a statement acknowledging Parex Resources' nomination of six director candidates for its upcoming Annual General Meeting, defending its current strategy and prior rejection of Parex's acquisition offer.

check_boxKey Events

• Proxy Fight Acknowledged

  GeoPark confirmed Parex Resources has nominated six director candidates for the 2026 Annual General Meeting, directly responding to the activist's move.

• Rejection of Prior Offer Reiterated

  GeoPark reiterated its Board's decision to reject Parex's $9.00 per share acquisition offer from September 2025, stating it 'meaningfully undervalued' the company.

• Strategic Defense Highlighted

  The company highlighted recent strategic actions, including the Vaca Muerta and Frontera Energy acquisitions, as evidence of its successful growth strategy and value creation.

• Share Price Performance Noted

  GeoPark noted its share price has appreciated 33% since Parex's initial offer and 15% since Parex disengaged from negotiations in December 2025, supporting its valuation claims.

auto_awesomeAnalysis

This filing provides GeoPark's official stance on the proxy fight initiated by activist shareholder Parex Resources, which nominated six directors to the board. GeoPark emphasizes its strategic achievements, including recent acquisitions and share price appreciation, as justification for rejecting Parex's previous $9.00 per share acquisition offer. The company asserts that Parex's offer undervalued GeoPark and highlights its strong operational performance and growth prospects. Investors should monitor the developments of this proxy contest, as it could lead to significant changes in the company's governance and strategic direction.